Ripple CEO reveals he visited SEC several times before lawsuit struck

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Brad Gar­ling­house, the CEO of cross-bor­der pay­ments com­pa­ny Rip­ple, spoke dur­ing a pan­el dis­cus­sion Mon­day at the World Eco­nom­ic Forum in Davos, Switzerland.

Gar­ling­house, who also occu­pies a role as a mem­ber of the company’s board of direc­tors, com­ment­ed on a wide range of top­ics, most notably the cur­rent sta­tus of reg­u­la­tion in the Unit­ed States ver­sus G20 nations. 

Rip­ple CEO Brad Gar­ling­house. Source: Cointelegraph

Empha­sis­ing the pru­dent neces­si­ty for reg­u­la­to­ry frame­works which serve inte­gral prin­ci­ples of “clar­i­ty and cer­tain­ty”, Gar­ling­house stat­ed his belief that:

“The over­whelm­ing major­i­ty of peo­ple work­ing with­in the cryp­to indus­try are good actors that want to do right by reg­u­la­tors. But when the rules of the road aren’t clear, it’s very dif­fi­cult to man­age with­in that.”

Lat­er in the con­ver­sa­tion, Gar­ling­house revealed that he per­son­al­ly went to the U.S. Secu­ri­ties and Exchange Com­mis­sion (SEC) office “four or five times in the years lead­ing up to their deci­sion to file a law­suit,” stat­ing that the Rip­ple asso­ci­at­ed asset XRP should be legal­ly cat­e­go­rized security.

Relat­ed: WEF 2022, May 23: Lat­est updates from the Coin­tele­graph Davos team

“It demon­strates how out-of-step the Unit­ed States is with the G20”, Gar­ling­house argued, cit­ing Switzer­land, Sin­ga­pore, the Unit­ed King­dom and Japan as nations that have more favor­able reg­u­la­to­ry envi­ron­ments for cul­ti­vat­ing tech­no­log­i­cal innovation. 

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